Nilsine Partners LLC Grows Position in Deere & Company (NYSE:DE)

Nilsine Partners LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 6.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 5,571 shares of the industrial products company’s stock after purchasing an additional 346 shares during the quarter. Nilsine Partners LLC’s holdings in Deere & Company were worth $2,615,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter worth $39,000. Dogwood Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth $42,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $43,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of Deere & Company in the first quarter valued at about $49,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DE shares. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $515.19.

Deere & Company Trading Down 0.8%

NYSE DE opened at $520.66 on Friday. The firm’s 50-day moving average is $495.13 and its two-hundred day moving average is $470.56. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market capitalization of $141.01 billion, a P/E ratio of 25.19, a PEG ratio of 3.33 and a beta of 1.09.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the prior year, the company posted $8.53 earnings per share. Deere & Company’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. Deere & Company’s dividend payout ratio is presently 31.35%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.